Navigating internal conflict and unscrambling the eggs of a wealth management firm merger.
OCTOBER 2023
About Rideau Wealth Solutions Ltd
Rideau Wealth Solutions Ltd (RWSL) is a financial advisory firm that provides tailored strategies that navigates the complexities of wealth management, retirement income, and financial planning. The firm was created through the merger of three principal advisors. The experts at London AVERY played an instrumental role in the design and facilitation of the merger and were subsequently called upon to navigate the internal conflict that exacerbated post-merger.
Challenge
Rideau Wealth Solutions faced a unique set of challenges as a result of internal conflict following the merger and creation of the single entity RSWL:
Post-Merger Conflict: One of the three original partners decided to leave the firm due to internal disagreements, causing friction within the leadership team.
Divestiture of Assets: The departing partner required a clear and equitable division of assets, creating additional financial and operational complications.
Ongoing Disruption: The internal conflict threatened the stability of the firm, the retention of key staff and the ability to continue delivering excellent service to RWSL clients.
Solution
London AVERY partnered with RWSL to manage the complexities of conflict resolution and the firm's future. The solution included:
Conflict Management Facilitation: Acting as a neutral party, London AVERY facilitated mediation between the partners. The focus was to enable dialogue between the parties, reduced the chaos within the business and ensure the business remained operational thought the enduring dispute.
Strategic Severing of Assets: In consideration of the initial merger, a well developed divestiture plan was implemented to align the partners of RWSL under a unified vision and service model. It was imperative to ensure that the departing partner's interest were fairly represented while securing the financial health of RWSL.
Ongoing Negotiation Support: London AVERY provided continual support throughout the mediation process, guiding the firm and helping RWSL to try and mitigate the risk during the transition.
Results & benefits
The implementation of London AVERY's solution has yielded significant positive results for RWSL, however the consultation and mitigation of the challenge is still ongoing:
Comprehensive Mediation: Successfully brought all partners to the table for initial mediation and conflict resolution, providing forward traction in navigating the complex business transitions.
Reduced Chaos: Preserved RWSL’s reputation and operational effectiveness, allowing the firm to continue its long-standing relationships with clients.
